The Role of Corporate Law in the Theory of the Firm

1985 ◽  
Vol 28 (1) ◽  
pp. 179-191 ◽  
Author(s):  
Barry D. Baysinger ◽  
Henry N. Butler
Keyword(s):  
Theory Of The Firm ◽  
Corporate Law

scholarly journals The Leadership’s Fairness and Social Skills − the Very Foundation of the Management and Functionality of an Entity

2019 ◽  
Vol 3 (3) ◽  
pp. 19-24
Author(s):  
Alexandru Trifu
Keyword(s):  
Social Skills ◽  
Theory Of The Firm ◽  
Corporate Leadership ◽  
Leadership Qualities ◽  
Business Environments ◽  
Modus Vivendi ◽  
Hr Managers ◽  
Or Organization ◽  
The Impact

This paper is dealing with a very sensitive aspect of today’s environment within an entity: the Leadership and the new challenges of the new trends, ideas, and realities regarding the human factor, both from both the viewpoint of the management and the employees. The aim of the research is to analyze the role of the Leadership within corporate activities, different from what is known today by the syntagma “politically correctness”. An analysis of the literature in this domain based upon empirical observations through our own practice experiences leads to the verdict that, in this case, the corporate Leadership must be fair, as balanced as possible, empathic and pursuing the main goal(s) of the entity or organization, i.e., using skills and abilities to capacitate all employees, regardless of their gender, religion, beliefs, looks to reach the goal(s) in the benefit of corporation/organization, but also in the benefit of the employees and the environment. The methodological tools of the study are analytical and comparative methods, methods of logical generalization and scientific abstraction. Based on the analysis, it was concluded that the new approaches in theory of the firm are based on the qualities of the CEOs, how must be the behavior of the leaders, the importance of X and Y Economic models and, even, the impact of social and psychological aspects on Economics. In fact, it’s about the humanization of the entire management and the well-functioning of the entity is necessary to be based on human factors, but in a such manner, by training, by motivation, in order to capacitate all staff, all employees, no matters differences, to obtain the goals established and to gain benefits both for employees, management and for the firm/corporation in its relationships with the internal environment, but also with the natural and business environments. The results obtained can be useful for the owners of the enterprise and HR managers in terms of understanding the importance of leadership qualities in the successful functioning of the company and the formation of an understanding of the advisability of attracting a leader to work in various positions within the organization. Keywords: leadership, entity, emotional intelligence, social skills, politically correctness, modus vivendi.

scholarly journals From Corporate Law to Corporate Governance

2016 ◽  
Author(s):  
Ronald J. Gilson
Keyword(s):  
Corporate Governance ◽  
Theory Of The Firm ◽  
Corporate Law ◽  
Law And Finance ◽  
Corporate Behavior ◽  
Governance Analysis ◽  
Path Dependent ◽  
1960S And 1970S ◽  
The 1960S ◽  
Traditional Approaches

In the 1960s and 1970s, corporate law and finance scholars gave up on their traditional approaches. Corporate law had become “towering skyscrapers of rusted girders, internally welded together and containing nothing but wind.” In finance, the theory of the firm was recognized as an “empty box.” This essay tracks how corporate law was reborn as corporate governance through three examples of how we have usefully complicated the inquiry into corporate behavior. Part I frames the first complication, defining governance broadly as the company’s operating system, a braided framework of legal and non-legal elements. Part II adds a second complication by making the inquiry dynamic: corporate governance as a path dependent process that co-evolves with the elements of the broader capitalist regime. Part III considers unsuccessful efforts to simplify rather than complicate corporate governance analysis through static single factor models: stakeholder, team production, director primacy, and shareholder primacy. Part IV concludes by highlighting the tradeoff between a governance system’s capacity to adapt to change and its ability to support long-term investment.

Organizing, Organizations, and the Role of Social Media Conversations

2018 ◽  
pp. 62-78
Author(s):  
Veronica R. Dawson
Keyword(s):  
Social Media ◽  
Organizational Identity ◽  
Organization Theory ◽  
Theory Of The Firm ◽  
Organizational Participation ◽  
Making Sense ◽  
The Social ◽  
Social Media Platforms ◽  
Communicative Theory

This chapter traces the concept of organizational identity in organization theory and places it in the social media context. It proposes that organizational communication theories intellectually based in the “linguistic turn” (e.g., the Montreal School Approach to how communication constitutes organizations, communicative theory of the firm) are well positioned to illuminate the constitutive capabilities of identity-bound interaction on social media. It suggest that social media is more than another organizational tool for communication with stakeholders in that it affords interactants the opportunity to negotiate foundational organizational practices: organizational identity, boundaries, and membership, in public. In this negotiative process, the organizing role of the stakeholder is emphasized and legitimized by organizational participation and engagement on social media platforms. The Montreal School Approach's conversation–text dialectic and the communicative theory of the firm's conceptualization of organizations as social, are two useful concepts when making sense of organization–stakeholder interaction in the social media context.

scholarly journals IL DIRITTO SOCIETARIO TRA DIRITTO COMPARATO E DIRITTO STRANIERO

2013 ◽  
Author(s):  
Giuseppe B. Portale
Keyword(s):  
Comparative Law ◽  
Corporate Law ◽  
Private Company ◽  
General Role ◽  
Foreign Law ◽  
Specific Regulation ◽  
The One ◽  
Substantive Law ◽  
Theoretical Foundations

The article tackles the issues related to the use of comparative law a source of substantive law in a specific legal system, with specific regard to corporate law. Expanding on previous studies on the general role of comparative law in the framework of sources of law (§ 1), the study argues that the comparative argument may be used to regulate purely domestic cases and as well as a play a crucial role in interpreting internal laws (§§ 1.1, 1.2) and analyzes the theoretical foundations of such process (§ 1.3) as well as the problems caused by the application of foreign law by a domestic judge (§ 2). Subsequently, two examples of such usage of the comparative legal argument are provided, drawn from the Italian corporate law experience (§ 3): on the one hand, the introduction of a specific regulation of a simplified private company (società a responsabilità limitata semplificata), representing a circulation of German (Unternehmergesellschaft- UG) and Belgian (société privée a responsabilité limitée starter) models (§ 3.1); on the other hand, the use of comparative law by in the interpretation of the organization structure in the Italian dualistic system (§ 3.2).

scholarly journals State, BUMN (State Owned Enterprises - SOEs) and Role of Law in Economic Development: A Theoretical Approach

2019 ◽  
Vol 1 (2) ◽  
pp. 20-29
Author(s):  
Teuku Syahrul Ansari
Keyword(s):  
Economic Development ◽  
Legal Status ◽  
Social Space ◽  
Corporate Law ◽  
Legal Certainty ◽  
Law System ◽  
Economic Law ◽  
Legal Problems ◽  
The Law

In developing the Business Judgment System for State-Owned Enterprises (SOEs, Persero) in Indonesian Economic Law, it is necessary to elaborate on the theory of the role of law in economic development. According to J.D. Mrs. Hart has three elements that must be developed in the legal system so that the law plays a role in economic development, namely predictability, stability, justice (fairness). The role of the law, basically refers to the main purpose of the law, which is to create an orderly society. Order and balance in society need to be achieved, so that human interests will be protected in achieving their goals. In general, the law functions to divide rights and obligations, regulate how to solve legal problems and maintain legal certainty. The role of the law basically refers to the main objective of the law, which is to create an orderly society. Order and balance in society need to be achieved, so that human interests will be protected in achieving their goals. In general, the law functions to divide rights and obligations, regulate how to solve legal problems and maintain legal certainty. The focus of this paper is the interaction of Indonesian corporate law in the Indonesian Economic Law system in the management of state-owned enterprises, as one of the corporations with legal status to be able to compete globally, because this principle is a universal principle. Corporate law and globalization interact in the same social space and interests. With these interactions, it allows various possibilities, such as integration, incoordination (partial merging), competition (each running alone), conflict (conflicting), and avoidance (one of the laws avoids the enforcement of other laws).

Performance Feedback Persistence: Comparative Effects of Historical Versus Peer Performance Feedback on Innovative Search

2020 ◽  
pp. 014920632091622 ◽  
Author(s):  
Yang Ye ◽  
Wei Yu ◽  
Robert Nason
Keyword(s):  
Performance Feedback ◽  
Critical Role ◽  
Theory Of The Firm ◽  
Theoretical Development ◽  
Panel Regression ◽  
The Past ◽  
Likelihood Analysis ◽  
Peer Performance ◽  
Quasi Maximum Likelihood

Firms use aspirations to regulate innovative search activities, but peer and historical referents may contain different signals regarding performance feedback. Integrating insights from the literature on profit persistence with the behavioral theory of the firm, we propose a persistence-based framework of organizational innovative search that connects the persistence characteristics of feedback from peer and historical referents with innovative search. We first predict that feedback from peer referents is more persistent than feedback from historical referents. Further, we theorize that peer performance feedback produces more pronounced effects: Performance above (below) peer aspiration leads to less (more) innovative search compared with performance above (below) the historical aspiration level. In addition, because industries impose heterogeneous levels of profit persistence, the differential effect between peer and historical performance feedback on innovative search is likely to be more evident in highly persistent industries. Examining the research-and-development intensity of a comprehensive panel of Compustat manufacturing firms over the past 45 years, our results from quasi–maximum likelihood analysis and fixed-effect panel regression largely support our theoretical development. Our study extends a nascent understanding of aspiration heterogeneity by revealing and empirically confirming the critical role of persistence.

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